Prime Little Italy 32-Unit Value-Add Portfolio
FOR SALE
$5,200,000
2376 Hoffman Street, Bronx, NY 10458
8,188 SF
Square Feet
$635
PPSF
12.94%
CAP
Property Description
NOI
$672,880
Cap Rate
12.94%
- Prime Little Italy 32-Unit Value-Add Portfolio.
- Rare opportunity to acquire a four building package totaling 32-units in prime Belmont.
- Portfolio wide 421a tax benefit in place, significantly reducing the effective tax burden.
- Unit mix comprised of six (6) one-bedroom apartments and twenty-six (26) two-bedroom apartments.
- Individually equipped with in-unit PTAC heating & cooling systems and dedicated hot water heaters for enhanced tenant comfort and reduced building-wide maintenance.
- Concentrated scale allowing for seamless management efficiencies.
- Located steps from Fordham University and Belmont’s Little Italy corridor, ensuring consistent rental demand.
- Located just 1 blocks from the famous Arthur Avenue, offering immediate access to popular eateries in the heart of The Bronx’s Little Italy, including the Arthur Avenue Retail Market which offers a variety of grocery stores, restaurants, and cafés.
- Excellent access to transportation with nearby 4, B & D subway lines and the Metro-North Fordham Station, providing direct connectivity to Manhattan and the outer boroughs
Property Details
Asset Type
MultiFamily
Neighborhood
Belmont
Submarket
Bronx
ZIP
10458
Listing Type
sale
30 years
10 years
Net Operating Income (NOI)
$1,067,525
Debt Service Coverage Ratio (DSCR)
3.61x
Cap Rate
20.53%
Cash Flow (Annual)
$771,717
Cash-on-Cash Return
59.36%
Monthly Debt Service
$24,651
Annual Debt Service
$295,808
View on Map
2376 Hoffman Street, Bronx, NY 10458
Address
2376 Hoffman Street
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Bronx MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale
No investors found in this market.
